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Introduction:
Reebok International Inc. ... In the late 1980’s and early 1990’s, Reebok was the number one brand in the athletic footwear industry. However, changes in consumers needs and wants, competition, the economy, and society in general, pushed Reebok’s name behind. This report will introduce the reader to Reebok, it’s marketing strategies and overall performance, and, most importantly, how Reebok should attempt to regain its previous position in the industry.
In 2003, it was reported that Reebok holds 13% of market share in
the athletic footwear industry; this second to its chief competitor, Nike. Reebok’s revenue for the footwear industry in U. ... Currently, Reebok’s main target market is the young, urban, hip-hop community.
Objectives:
The main objectives for this research paper are:
How to obtain customer satisfaction and loyalty over the next 3 years
How to set the price that would be comfortable to the consumer and the company
How to increase revenue growth by 10% over the next 3 years
Create and conduct a questionnaire in order to get a clear understanding of what the consumer wants/needs
While conducting both primary and secondary research to attack these objectives, the following problems and opportunities were discovered:
Research has shown that athletic footwear consumers do not find Reebokstyles appealing. Therefore, Reebok should put more money into R&D in order to come up with new styles and colors.
Reebok’s selling prices for athletic footwear seems to be lower than those of competitors such as Nike and Adidas. ... A reasonable price could get Reebok notice more.
Another opportunity that Reebok should take advantage of expanding their display within their distributors, particularly Foot Locker. ... Reebok fits this position.
In order to build brand loyalty, Reebok should attempt to target more children to start developing brand awareness at an early age. Opinions, perceptions and values are generally set between the ages of 3 and 18 that is why Reebok has to establish themselves as a “familiar” product during childhood stages.
Reebok has to increase their advertisements in order to make their consumers be more aware of the new products and promotions that Reebok is coming out with.
The results of the questionnaire provide some valuable input as to what Reebok should consider improving on.
In order for Reebok to achieve the objectives mentioned on page 3, the company should take into consideration and focus on the problems and opportunities discussed in this report. ...
SOCCER
REEBOK NIKE ADIDAS
MEN WOMEN MEN WOMEN MEN WOMEN
# OF ITEMS 11 2 15 6 24 7
RANGE 64. ... 4
BASKETBALL
REEBOK NIKE ADIDAS
MEN WOMEN MEN WOMEN MEN WOMEN
# OF ITEMS 6 2 16 8 22 5
RANGE 114. ... 96 74
TENNIS
REEBOK NIKE ADIDAS
MEN WOMEN MEN WOMEN MEN WOMEN
# OF ITMES 6 2 10 7 12 10
RANGE 99. ... 75 94
As shown on the tables above, sneakers from Reebok, Nike, and Adidas
range anywhere from 210 dollars to 30 dollars. ... In comparison, Reebok had lowest price in all of Soccer, Basketball and Tennis sections. Reebok seems to be differentiating itself from other companies by low cost.
The comparison shows that even though Reebok offers the lowest prices; it has the least number of styles in all categories. ... If Reebok will not offer more styles then the consumer is likely to go and purchase from the brand that has more to offer. Reebok has to design more styles in order to continue to be competitive, this means expand their R&D budget. ...
The announcement that Foot Locker is looking for less expensive shoe line could be of great advantage for Reebok because Reebok is selling their product at lower cost than Nike or addidas and therefore would fit into the category that Foot Locker is looking for.
Customer Needs, Wants, & Satisfaction:
Customer satisfaction is a big concern for the Reebok Corporation. ... A study shows market share leader Nike’s ACSI rating of 73 remains unchanged, while number two Reebok (+1. ... With both artists releasing multi-platinum albums within the past 3 years, they have become household names among the urban, hip-hop community, and have signed contracts for signature shoes with Reebok. ... Reebok is an athletic shoe that is extremely beneficial to athletes, and those who are simply trying to stay fit at affordable prices. ... Our respondents purchase sneakers during this time frame so this would be very beneficial to Reebok. ...
Brand Loyalty:
Reebok should pay special attention to babies and toddlers in their
marketing campaign. ... If Reebok can associate their brand with the characters of shows that children around these ages (3-10 approximately) are most familiar with through research, children will learn and become very familiar with the brand also. For example, if Elmo wears Reebok, won’t a child who is completely in love with Elmo want to wear it too?
Approximate Word count = 4039
Approximate Pages = 16.2
(250 words per page double spaced)
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